Pledging. If the responsible individual pledges any portion of the Xxxxxxxxx ESA as collateral for a loan, the amount so pledged will be treated as a distribution and may be included in the designated beneficiary’s gross income for that year to the extent that it represents earnings.
Appears in 17 contracts
Samples: Coverdell Esa Custodial Account Agreement, www.transamerica.com, davisfunds.com
Pledging. If the responsible individual Responsible Individual pledges any portion of the Xxxxxxxxx ESA as collateral for a loan, the amount so pledged will be treated as a distribution and may be included in the designated beneficiaryDesignated Beneficiary’s gross income for that year to the extent that it represents earnings.
Appears in 7 contracts
Samples: Custodial Agreement, www.navyfederal.org, www.stifel.com
Pledging. If the responsible individual Responsible Individual pledges any portion of the Xxxxxxxxx ESA as collateral for a loan, the amount so pledged will be treated as a distribution and may be included in the designated beneficiaryDesignated Beneficiary’s gross income for that year to the extent that it is represents earnings.
Appears in 1 contract
Samples: www.arrowfunds.com
